Sarnia has amended its agreement with Bridgeview Marina for the operation of Sarnia Bay Marina.
Bridgeview, which has operated the publicly owned facility since 2006, earns revenue from its operation after paying the city a guaranteed minimum payment, which for 2018 was set at $90,000.
The city also gets 50% of profit over and above the guaranteed amount.
Because Centennial Park’s remediation has had a negative impact on marina operations, council has granted Bridgeview’s request for a $10,000 payment reduction this year.
The operating agreement has also been extended to 2026.
Under its terms, Sarnia would receive $90,000 next year, $100,000 annually until 2023, and $110,000 annually until the year 2026.
Under Bridgeview’s management, Sarnia Bay Marina has become a popular boating destination with 350 slips on 30 acres beside the St. Clair River.